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Gland Pharma’s new product play for FY22 holds a lot of promise

While the US market is still expected to clock 18-20 per cent growth for Gland Pharma in FY22, the company’s foray into non-US markets would accelerate growth in the medium term

July 22, 2021 / 07:11 PM IST
Gland Pharma’s new product play for FY22 holds a lot of promise

Gland Pharma Limited | The share price has surged 124 percent to 3,367.05 on July 1, 2021, from its issue price of Rs 1,500. It was listed on exchanges on November 20, 2020, with an issue size of Rs 6,480 crore.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Gland Pharma (CMP: Rs 3,795; M Cap: Rs 62,325 crore) posted yet another strong set of numbers, aided by geographical diversification strategy, partially offset by a dip in margins. Diversification under way Q1FY22 sales growth of 31 per cent was backed by a 51 per cent growth in the rest of the world (RoW, 19 per cent of sales) and 77 per cent growth in domestic market (20 percent of sales). This is broadly in line with the strategy of diversifying...

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